Expect the trend in cumulative claims to remain high as several states continue to work through the backlog of claims and as declining household income and consumer spending prompt more businesses to reduce staff. … READ MORE >
Covid-19
Elevated first-time and continuing jobless claims show mounting stress in the labor market
Stress in the domestic labor market continued to intensify as 2.98 million individuals filed first-time jobless claims for the week ending May 9, bringing the total to 36 million during the coronavirus pandemic. Those filing continuing claims for the week ending May 2 jumped to 22.83 million. … READ MORE >
April U.S. Consumer Price Index: Another whiff of pandemic-caused deflation
The 0.8% decline in the Consumer Price Index in April, announced on Tuesday, should serve as a cautionary tale to those espousing dead dogma around risks to inflation. … READ MORE >
Global M&A nosedives, and what comes next is still in question
Global mergers and acquisitions plunged in April as companies worked through business challenges resulting from the coronavirus. As parts of the world begin to reopen their economies, questions remain on how bad the aftertaste will be for corporate deal making. … READ MORE >
A bright spot amid the economic wreckage of coronavirus: apartment rental payments
On Friday, the National Multifamily Housing Council released its Rent Payment Tracker, and reported that 80.2% of apartment households made a full or partial rent payment as of May 6. … READ MORE >
How business development companies are navigating the economic shock
As business development companies reel from the effects of the coronavirus outbreak, the valuations of their portfolio companies have dropped as the risk of default has grown amid a liquidity crunch. But there are steps they can take to manage the significant shock to the economy. … READ MORE >
A time to reflect on the reopening of state economies
There is an undeniable and understandable rush to reopen economies. But as the coronavirus continues to spread, it is also undeniable that decisions made in May will reverberate for years to come. … READ MORE >
U.S. April employment report: Prelude to a tragedy
It is difficult to ponder the significance of 20.5 million jobs lost and a 14.7% unemployment rate – the grim toll of the jobs data released on Friday — among the casualties and death that surround us. … READ MORE >
As private equity firms prepare to deploy cash, a backlash looms
As many middle market businesses struggle to stay above water, private equity firms are well-positioned to provide a lifeline. But there is a looming threat to the way the industry operates, and it is coming from the political sphere. … READ MORE >
Jobless claims, state by state: Eight have a million or more since the coronavirus outbreak
A cumulative 33.5 million claims of newly unemployed people have been processed by the state agencies in the seven weeks since the economies of most states were shut down to prevent the spread of the coronavirus. … READ MORE >